Total nonfarm payroll employment fell by 20.5 million in April, and the unemployment rate rose to 14.7 percent, the U.S. Bureau of Labor Statistics reported today. The changes reflect the first ful…
The changes reflect the first full month report of the dramatic effects of the coronavirus pandemic and efforts to contain it. Employment fell sharply in all major industry sectors, with particularly heavy job losses in leisure and hospitality. Employment fell in the arts,The unemployment rate and the monthly increase are the largest in the history of the series, which started in January of 1948. The contemporary peak, however, was in 1933 at the height of theU.S. Unemployment Reaches 14.
The Bureau of Labor Statistics said the number of people at work part time for economic reasons nearly doubled over the month to 10.9 million. “These individuals, who would have preferred full-time employment, were working part time because their hours had been reduced or they were unable to find full-time jobs. This group includes persons who usually work full time and persons who usually work part time.
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